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TORONTO, Aug. 26, 2024 (GLOBE NEWSWIRE) — Halcones Precious Metals Corp. (TSXV: HPM) (the “Company” or “Halcones”) announces that it has closed its previously announced non-brokered private placement financing, on an oversubscribed basis, of 21,200,000 units (the “Units”) priced at $0.05 per Unit for gross proceeds of $1,060,000 (the “Offering”).
Each Unit is comprised of one common share in the capital of the Company (each a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.10 per Common Share for a period of 36 months following the completion of the Offering. Securities issued under the Offering are expected to carry a holder period of 4 months and one day from the date of issue as may be required under applicable securities laws.
The Company plans to use the aggregate net proceeds of the Offering to identify and evaluate mineral properties for potential acquisition as well as general corporate working capital purposes.
In connection with the Offering, Halcones paid finder’s fees of $38,500 in cash and issued 770,000 non-transferable finder’s warrants (the “Finder’s Warrants”). Each Finder’s Warrant entitles the holder thereof to acquire one Common Share at a price of $0.05 for a period of 36 months following the completion of the Offering. The Offering is subject to the final approval of the TSX Venture Exchange.
An officer of the Company has subscribed for 2,000,000 Units pursuant to the Offering (the “Insider Participation”). The Insider Participation is considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The Insider Participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
About Halcones
Halcones Precious Metals Corp. is focused on exploring for and developing gold-silver projects in the Maricunga Belt, Chile, the premiere gold mining district in South America. The Company has a team with a strong background of exploration success in the region.
For further information, please contact:
Vincent Chen
Investor Relations
[email protected]
www.halconespreciousmetals.com
Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, regarding the Offering, the closing of the Offering, the use of proceeds of the Offering, the Company’s ability to identify, evaluate and acquire mineral properties and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Halcones, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Halcones has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Halcones does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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